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On January 1, Year 1, Weller Company issued a two year $1,000,000 bond. The annual coupon payments have a stated rate of 6% and the
On January 1, Year 1, Weller Company issued a two year $1,000,000 bond. The annual coupon payments have a stated rate of 6% and the market rate is 5%. Calculate the present value (as of January 1, Year 1) for the Year 1 coupon payment? Round your answer to the nearest dollar.
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